Louisiana State Employees Retirement System Purchases Shares of 63,600 SLM Co. (NASDAQ:SLM)

Louisiana State Employees Retirement System purchased a new stake in shares of SLM Co. (NASDAQ:SLM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 63,600 shares of the credit services provider’s stock, valued at approximately $1,216,000.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in SLM by 81.4% in the 4th quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock worth $25,000 after purchasing an additional 596 shares in the last quarter. CWM LLC raised its holdings in SLM by 51.9% in the 3rd quarter. CWM LLC now owns 5,632 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 1,925 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in SLM by 10.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 9,033 shares of the credit services provider’s stock worth $123,000 after purchasing an additional 851 shares in the last quarter. MQS Management LLC bought a new position in SLM in the 3rd quarter worth $144,000. Finally, Versor Investments LP bought a new position in SLM in the 3rd quarter worth $163,000. Hedge funds and other institutional investors own 98.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SLM. Deutsche Bank Aktiengesellschaft began coverage on shares of SLM in a report on Wednesday, January 10th. They issued a “buy” rating and a $25.00 price objective for the company. Wells Fargo & Company increased their price target on shares of SLM from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Royal Bank of Canada lifted their price target on shares of SLM from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. TheStreet raised shares of SLM from a “c+” rating to a “b” rating in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of SLM from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.32.

SLM Stock Performance

SLM stock opened at $21.32 on Tuesday. The company has a market capitalization of $4.70 billion, a P/E ratio of 8.88, a PEG ratio of 0.43 and a beta of 1.16. SLM Co. has a twelve month low of $12.26 and a twelve month high of $21.94. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 3.21. The stock’s 50 day moving average is $20.79 and its 200 day moving average is $18.06.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Tuesday, January 30th. The credit services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.15). The business had revenue of $725.66 million during the quarter, compared to the consensus estimate of $379.20 million. SLM had a net margin of 20.65% and a return on equity of 36.86%. During the same period last year, the company posted ($0.33) earnings per share. On average, equities research analysts predict that SLM Co. will post 2.72 earnings per share for the current fiscal year.

SLM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, June 6th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.06%. SLM’s dividend payout ratio (DPR) is presently 18.33%.

SLM declared that its board has authorized a stock repurchase plan on Wednesday, January 24th that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 14.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at SLM

In related news, SVP Jonathan Boyles sold 94,078 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.72, for a total value of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at approximately $1,093,000.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at approximately $1,093,000.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donna F. Vieira sold 12,308 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total value of $249,483.16. Following the transaction, the executive vice president now directly owns 126,500 shares in the company, valued at $2,564,155. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by insiders.

SLM Company Profile

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.